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Business, 24.10.2019 02:00 AliceYT

Black corporation had a 1/1/20 balance in the allowance for doubtful accounts of $21,000. during 2020, it wrote off $15,120 of accounts and collected $4,410 on accounts previously written off. the balance in accounts receivable was $420,000 at 1/1 and $504,000 at 12/31. at 12/31/20, black estimates that 5% of accounts receivable will prove to be uncollectible. what should black report as its allowance for doubtful accounts at 12/31/20?

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Black corporation had a 1/1/20 balance in the allowance for doubtful accounts of $21,000. during 202...
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